Corporate Decision #97-96 November 1997
Comptroller of the Currency Administrator of National Banks Washington, D.C. 20219 Corporate Decision #97-96 November 1997 DECISION OF THE OFFICE OF THE COMPTROLLER OF THE CURRENCY ON THE APPLICATION TO MERGE SIGNET BANK, RICHMOND, VIRGINIA, WITH AND INTO FIRST UNION NATIONAL BANK, CHARLOTTE, NORTH CAROLINA November 9, 1997 _____________________________________________________________________________ I. INTRODUCTION On August 14, 1997, First Union National Bank, Charlotte, North Carolina (FUNB) filed an Application with the Office of the Comptroller of the Currency (OCC) for approval to merge Signet Bank, Richmond, Virginia (Signet) with and into FUNB under FUNB’s charter and title, pursuant to 12 U.S.C. §§ 215a-1, 1828(c), and 1831u (the “Merger Application”). Signet is an insured bank chartered by the state of Virginia, with its main office in Richmond, Virginia, and branches in Virginia, Maryland, and the District of Columbia. FUNB is an insured national bank with its main office in Charlotte, North Carolina. FUNB and Signet are wholly-owned subsidiaries of First Union Corporation (First Union), a registered multibank holding company organized under the laws of North Carolina.1 FUNB currently has branches in Connecticut, Florida, Georgia, South Carolina, Tennessee, Virginia, Maryland, and the District of Columbia. In the Merger Application, OCC approval is also requested for the resulting bank to retain FUNB’S main office as the main office of the resulting bank under 12 U.S.C. § 1831u(d)(1) and to retain FUNB’s branches and Signets’ main office and branches as branches after the merger under 12 U.S.C. §§ 36(d) and 1831u(d)(1).
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